From Asiaone.com: Beijing has again told local authorities to step up efforts to curb excessive land price increases that have contributed to higher housing prices. The Ministry of Land and Resource has told local governments to "pay a close attention to real estate market movements and to firmly implement regulatory and control measures" as a way to cool down heated bidding for land.
Despite property tightening measures, developers have shown a renewed thirst for land in recent weeks and have thrown a huge amount of cash in state land auctions, pushing land prices to all-time new highs in Shanghai, Guangzhou, Wuhan and Wenzhou..............................................Full Article: Source